The greenhouse horticulture market size is poised to grow by USD 8.81 billion during 2020-2024, progressing at a CAGR of almost 6% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
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Technavio has announced its latest market research report titled Global Greenhouse Horticulture Market 2020-2024 (Graphic: Business Wire)
Plants need CO2 to produce glucose during the process of photosynthesis. Greenhouses require additional CO2 to be given to the plants for increasing the yield, even with proper ventilation. CO2 can be extracted from the air using different techniques. Earlier techniques for achieving optimum levels of CO2 included capturing CO2 using biomass or geological engineering. A recent technique called direct air capture captures CO2 directly from the atmosphere. The companies are coming up with advanced technology to extract CO2. Therefore, improvements in CO2 extraction technologies for greenhouses will influence the growth of the greenhouse horticulture market during the forecast period.
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The major greenhouse horticulture market growth came from the plastic segment. Plastic greenhouses are generally made from polycarbonate, acrylic, polyethylene, or fiberglass. Polycarbonates and acrylics are plastic materials having high impact strength and protect crops from snow as well as hail without breaking. Polyethylene transmits lesser light than glass and is resistant to the impact of hail. Moreover, the adoption of plastic greenhouses is increasing due to lower initial investment costs